| OUTSTANDING MAP DISTRIBUTORS LTD |
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| ABBREVIATED BALANCE SHEET |
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| as at 31 July 2016 |
| Company Registration No. |
05598151 |
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| Notes |
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2016 |
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2015 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
1 |
|
|
10,171 |
| Tangible assets |
3 |
|
|
44,287 |
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|
66,431 |
| Investments |
4 |
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|
113,488 |
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|
113,488 |
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|
157,776 |
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|
190,090 |
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| Current assets |
| Stocks |
123,847 |
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|
152,150 |
| Debtors |
200,305 |
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|
128,112 |
| Cash at bank and in hand |
22,208 |
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|
42,186 |
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|
346,360 |
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|
322,448 |
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| Creditors: amounts falling due within one year |
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(317,453) |
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|
(382,971) |
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| Net current assets/(liabilities) |
28,907 |
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(60,523) |
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| Net assets |
186,683 |
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129,567 |
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| Capital and reserves |
| Called up share capital |
5 |
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2 |
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2 |
| Profit and loss account |
186,681 |
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|
129,565 |
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| Shareholders' funds |
186,683 |
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129,567 |
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| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
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| Directors' responsibilities: |
| - |
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; |
| - |
The directors acknowledge their responsibilities for complying with the requirements of the act with respect to accounting records and the preparation of financial statements. |
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| These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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| Approved by the board on 13 March 2017 |
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| ……………………………………… |
| Richard Sean Quigly |
| Director |
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| OUTSTANDING MAP DISTRIBUTORS LTD |
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| NOTES TO THE ABBREVIATED ACCOUNTS |
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| FOR THE YEAR ENDED 31 JULY 2016 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
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Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
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Tangible fixed assets and depreciation |
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Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows: |
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Fixtures, fittings and equipment |
20% straight line |
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Motor vehicles |
25% reducing balance |
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Deferred taxation |
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Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
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Foreign currencies |
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Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
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| 2 |
Intangible fixed assets |
£ |
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Cost |
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At 1 August 2015 |
301,668 |
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At 31 July 2016 |
301,668 |
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Amortisation |
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At 1 August 2015 |
291,497 |
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Provided during the year |
10,170 |
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At 31 July 2016 |
301,667 |
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Net book value |
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At 31 July 2016 |
1 |
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At 31 July 2015 |
10,171 |
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| 3 |
Tangible fixed assets |
£ |
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Cost |
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At 1 August 2015 |
190,808 |
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At 31 July 2016 |
190,808 |
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Depreciation |
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At 1 August 2015 |
124,377 |
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Charge for the year |
22,144 |
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At 31 July 2016 |
146,521 |
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Net book value |
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At 31 July 2016 |
44,287 |
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At 31 July 2015 |
66,431 |
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| 4 |
Investments |
£ |
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Cost |
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At 1 August 2015 |
113,488 |
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At 31 July 2016 |
113,488 |
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| 5 |
Share capital |
Nominal |
|
2016 |
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2016 |
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2015 |
| value |
Number |
£ |
£ |
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Allotted, called up and fully paid: |
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Ordinary shares |
£1 each |
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2 |
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2 |
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2 |
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